Sheldon Lang Acquires Multifamily Property In Midwood For $3.25M
1113 Avenue O Brooklyn, NY 11230, USA
$3,250,000
$178/SF
Building Size
18,224 SF
Asset Type
MultiFamily
Closing
Jun 13, 2023
AI
A multifamily property located at 1113 Avenue O in Midwood has been sold for a total of $3,250,000. The property consists of 23 units, with an average price per unit of $141,304. The total square footage of the property is 18,224, and the price per square foot is $178.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,250,000
- Units: 23
- Price per Unit: $141,304
- Square Footage: 18,224
- Price per Square Foot: $178
Sheldon Lang has purchased the property from Karen Fernande and Jimmy Rey Rodriguez. Matthew Sparks and Moshe Goldberger from GFI Realty Services represented both the buyer and the seller in this transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.88%
Cash-on-Cash
-1.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93